With uncertain times ahead, businesses are increasingly embracing innovation in order to succeed. Iain Edwards, of RTC North, says by looking at how your business functions now and ways it can change and improve will lead to progress and ultimately greater success.
"Just as energy is the basis of life itself, and ideas the source of innovation, so is innovation the vital spark of all human change, improvement, and progress" – Ted Levitt
Businesses must adapt and change to keep up with their competitors. It’s essential to create new value for your customers, to boost productivity and growth.
Research new markets to bring your products and services to, while keeping your existing markets engaged.
Look within, address organisational changes within your business.
Continuously learning new things and applying them to your business is key. Keep up to date with sectoral knowledge and technological advances in your field. This will only inspire your future innovation activity.
Ensure you have a defined and robust plan for future growth.
Recognise, value and understand how to protect intellectual property and make better use of it.
Introduce new processes leading to the development of products and services.
Make use of local, regional and even national networks with events, conferences and peer groups. They will keep you in the loop with what like-minded organisations are doing, what successes they have had, and pain points they have experienced so you can feed into your own business journey.
This is why programmes like the Leeds City Region Enterprise Partnership’s (LEP) Access Innovation programme is vital for our region.
Access Innovation is a programme supporting SMEs to develop new products and services by accessing specialist expertise. One to one advice and specialist workshops are delivered by RTC North on behalf of the Leeds City Region Enterprise Partnership (LEP) and aim to develop and agree an action plan for your business. Participating businesses will receive support and coaching to help tackle identified barriers and develop your approach to innovation.
The programme offers access to one to one advice, specialist workshops, specialist research and development expertise, equipment at universities and other research providers, and up to £30,000 funding grants towards innovative projects. The programme also offers grants of up to £20, 000, specifically aimed at supporting businesses to purchase equipment.
Access Innovation supports SMEs to fully release their potential and fulfil innovation ambitions and is a welcome addition to the innovation support landscape in our region.
Access to innovation support has never been easier!
Sign up and learn more at www.access-innovation.co.uk